Fraud

After barely 24 hours in prison, the Wall Street fraudster Bernard Madoff has launched an attempt to return to his Manhattan penthouse through an appeal for bail which discloses the true extent of his lavish lifestyle. Documents filed by defence lawyers estimate that Madoff and his wife, Ruth, have assets worth between $823m and...
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At least 50 victims of Bernard Madoff sat in a packed U.S. District Courtroom in Manhattan Thursday as the disgraced money manager was led off to jail in handcuffs after pleading guilty to masterminding a $65 billion Ponzi scheme. Outside were many more, and they still represented only the tip of an iceberg that...
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Bernard Madoff, the alleged mastermind of a $50 billion Ponzi scheme, may be nearing a guilty plea after federal prosecutors filed a notice that they intend to bring new criminal charges against the New York money manager. Assistant U.S. Attorney Marc Litt today filed a one-page document in Manhattan federal court indicating the government...
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FBI agents in the US state of Virginia have served Texan billionaire Sir Allen Stanford with civil legal papers from the US financial watchdog, the SEC. Sir Allen, who disappeared from public view on Tuesday when he was accused by the SEC of an $8bn (£5.6bn) fraud, is believed to be in the Richmond...
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